Cryptocurrencies

As the industry collapses, Travala’s “crypto Booking.com” sees its profits soar. – Cryptocurrencies

January 2020, Travala announced that it would accept Tether (USDT) for the reservation of its hotels and accommodation. Crypto = freedom = travel? A formula which appeared immediately coherent. Travala seems to have escaped the thunderbolts of containment: sales soared in May 2020, despite a relative slowdown in the level of activity compared to that of March 2020.

A successful getaway for Travala

The booking platform Travala won a risky bet – not to say crazy : increase sales during containment.

According to sales statistics for the month of May 2020, the pandemic does not seem to have weakened the enthusiasm of the users of Travala, with an increase of 45.8% in nights booked compared to April 2020.

The platform’s turnover increased by 208%. However, pre-containment reservations in March 2020 were 60% higher than in May 2020.

The Travala CEO, Juan Otero, said that platform users are taking every opportunity to plan a short getaway. Reservations are made in the immediate vicinity and for relatively short durations.

Travel without friction

Juan Otero maintains that users feel more free to pay in cryptos, a payment method with lower friction and, thus improving the user experience.

The merger of Travala with TravelByBIT in May 2020 serves as a springboard for sales of Travala.

If most booking sites receive payments by credit card or PayPal, Travala think outside the box by accepting payments in cryptocurrencies – Bitcoin (BTC), Travala.com ((AVA), etc. – accommodation on the site of Booking.com.

60% of reservations on the site are done in cryptocurrencies, a figure that could very well increase in the future.

Traveling at the speed of light is not for now, but paying for travel in cryptos is already a reality. The travel, hospitality and accommodation industries could very well play a major springboard for the adoption of cryptocurrencies, and vice versa. When will there be a tokenisation of private jets, with a usage time proportional to the share held?

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